Commissar SFLUFAN Posted July 27, 2018 Share Posted July 27, 2018 The U.S. economy accelerated to a 4.1 percent pace of growth in the second quarter, the fastest since 2014, letting President Donald Trump claim a win for his policies even though expansion is projected to cool. The effects of the trade situation can be seen here: Illustrating the volatility of some elements of GDP, net exports contributed 1.06 percentage point to the pace of growth, the most since 2013, partly on a surge in soybean shipments ahead of retaliatory tariffs. Inventories subtracted 1 point, the most since 2014, Commerce said, citing soybean stocks as well as those of drugs and sundries and petroleum and related products. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted July 27, 2018 Share Posted July 27, 2018 So exports minus inventories was a net gain of 0.06% is that right? Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted July 27, 2018 Author Share Posted July 27, 2018 13 minutes ago, b_m_b_m_b_m said: So exports minus inventories was a net gain of 0.06% is that right? For those two components, that's correct. Excluding those two components, real final sales for domestic purchasers rose 3.9% in the second quarter. Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted July 27, 2018 Share Posted July 27, 2018 Looks like the Chinese buying tons of soybeans before the tariffs hit also helped increase the percentage, which will likely be reflected during Q3. Trump tried to put kerosene on the economy for a short-term gain, but it will likely not be sustained, especially with the ongoing trade war. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted July 27, 2018 Share Posted July 27, 2018 20 minutes ago, SaysWho? said: Looks like the Chinese buying tons of soybeans before the tariffs hit also helped increase the percentage, which will likely be reflected during Q3. Trump tried to put kerosene on the economy for a short-term gain, but it will likely not be sustained, especially with the ongoing trade war. It still blows my mind just how close Trump has/had been to being an extremely popular president, if not for his own stupid miscalculations. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted July 27, 2018 Share Posted July 27, 2018 3 minutes ago, b_m_b_m_b_m said: It still blows my mind just how close Trump has/had been to being an extremely popular president, if not for his own stupid miscalculations. Got ya! He's not calculating anything! Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted July 27, 2018 Share Posted July 27, 2018 3 minutes ago, 2user1cup said: Got ya! He's not calculating anything! I have a stupid tendency to think he had some agency, but he's just pure, unfiltered id Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted July 27, 2018 Share Posted July 27, 2018 5 minutes ago, b_m_b_m_b_m said: It still blows my mind just how close Trump has/had been to being an extremely popular president, if not for his own stupid miscalculations. The fact that his approval ratings went down a full point this past week to 41% or the fact that his approval rating hit a "high" this year at 42.7% despite the perception that the economy is doing great (when we know it's doing great for people at the top while inflation outpaces lower to middle class wages and housing prices increase) is stunning. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted July 27, 2018 Share Posted July 27, 2018 1 minute ago, b_m_b_m_b_m said: I have a stupid tendency to think he had some agency, but he's just pure, unfiltered id No Quote Link to comment Share on other sites More sharing options...
osxmatt Posted July 27, 2018 Share Posted July 27, 2018 What do you mean the over 4% for the first time since 2014? I thought Obama never had GDP growth over 3% during his whole presidency!? Quote Link to comment Share on other sites More sharing options...
Massdriver Posted July 27, 2018 Share Posted July 27, 2018 2 hours ago, osxmatt said: What do you mean the over 4% for the first time since 2014? I thought Obama never had GDP growth over 3% during his whole presidency!? 4% quarterly rate is annualized which more like 1% actual growth. There’s no way the us will grow 4% in 2018. Quote Link to comment Share on other sites More sharing options...
sblfilms Posted July 27, 2018 Share Posted July 27, 2018 53 minutes ago, Massdriver said: 4% quarterly rate is annualized which more like 1% actual growth. There’s no way the us will grow 4% in 2018. Not with that attitude, guy. 1 4 Quote Link to comment Share on other sites More sharing options...
Chris- Posted July 27, 2018 Share Posted July 27, 2018 3 hours ago, osxmatt said: What do you mean the over 4% for the first time since 2014? I thought Obama never had GDP growth over 3% during his whole presidency!? All of the 'look at how wrong the media was about Trump not getting 3%!' tweets on conservative Twitter have been entertaining. It's akin to not understanding tax brackets. Quote Link to comment Share on other sites More sharing options...
sblfilms Posted July 27, 2018 Share Posted July 27, 2018 7 minutes ago, Chris- said: All of the 'look at how wrong the media was about Trump not getting 3%!' tweets on conservative Twitter have been entertaining. It's akin to not understanding tax brackets. I suppose it shouldn’t surprise me, but I’m surprised by how many people I’ve spoken with who said something along the lines of “I’ll actually make less money after my raise because I’ll move up a tax bracket.” Quote Link to comment Share on other sites More sharing options...
Scape Zero Posted July 27, 2018 Share Posted July 27, 2018 5 minutes ago, sblfilms said: I suppose it shouldn’t surprise me, but I’m surprised by how many people I’ve spoken with who said something along the lines of “I’ll actually make less money after my raise because I’ll move up a tax bracket.” I don't understand how people can still believe that. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted July 27, 2018 Share Posted July 27, 2018 27 minutes ago, Scape Zero said: I don't understand how people can still believe that. Think of the average* voter. Half the people are dumber than that. Quote Link to comment Share on other sites More sharing options...
Jason Posted July 27, 2018 Share Posted July 27, 2018 1 hour ago, sblfilms said: I suppose it shouldn’t surprise me, but I’m surprised by how many people I’ve spoken with who said something along the lines of “I’ll actually make less money after my raise because I’ll move up a tax bracket.” 1 hour ago, Scape Zero said: I don't understand how people can still believe that. The only thing I can remotely think of (obviously this isn't directly about tax brackets but still) is, aren't there assistance programs that drop you off a cliff once your income exceeds a certain level instead of graduated phaseouts? Quote Link to comment Share on other sites More sharing options...
Scape Zero Posted July 27, 2018 Share Posted July 27, 2018 27 minutes ago, Jason said: The only thing I can remotely think of (obviously this isn't directly about tax brackets but still) is, aren't there assistance programs that drop you off a cliff once your income exceeds a certain level instead of graduated phaseouts? A lot of social services drop you basically completely once you hit the income level of "if you spend all your money towards food, you should have enough food to survive". I don't think many people in these programs are making enough money to worry about tax brackets though. Quote Link to comment Share on other sites More sharing options...
Joe Posted July 27, 2018 Share Posted July 27, 2018 I had employees tell me that they didn't want to work overtime because they ended up making less because of increased taxes. People say and think the darndest things. Quote Link to comment Share on other sites More sharing options...
Scape Zero Posted July 27, 2018 Share Posted July 27, 2018 10 minutes ago, Jose said: I had employees tell me that they didn't want to work overtime because they ended up making less because of increased taxes. People say and think the darndest things. You should use their logic and fire them. Decreased income = decreased taxes = more money = no problem! Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted July 30, 2018 Share Posted July 30, 2018 Economic growth means nothing to most people anyway since all of the growth in the past few decades has gone to the rich. This chart is very depressing: Quote Link to comment Share on other sites More sharing options...
johnny Posted July 30, 2018 Share Posted July 30, 2018 On 7/27/2018 at 1:56 PM, Jose said: I had employees tell me that they didn't want to work overtime because they ended up making less because of increased taxes. People say and think the darndest things. I remember my first OT check I was excited because I worked over 120 hours over two weeks and then got my check and was like “huh.... I’m not sure it’s worth all that extra manual labor”. Idk why anybody would think they make less though lol. Quote Link to comment Share on other sites More sharing options...
PaladinSolo Posted July 30, 2018 Share Posted July 30, 2018 7 hours ago, CitizenVectron said: Economic growth means nothing to most people anyway since all of the growth in the past few decades has gone to the rich. This chart is very depressing: Yeah, but our economy is growing so much faster than theirs, who cares if its completely unsustainable! Quote Link to comment Share on other sites More sharing options...
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